SAN FRANCISCO--(BUSINESS WIRE)--LegalOn Technologies, the global leader in AI contract review, unveiled the first AI contract editing tool enhanced by expert legal knowledge: “AI Revise.” AI Revise combines detailed legal practical guidance with the latest GPT technology from OpenAI. Lawyers can direct AI Revise to make sophisticated contract revisions in seconds.
LegalOn also announced that it is now commercially available to all customers in the United States. The company launched an early access period in January 2023. LegalOn’s subscription offerings will include AI Revise and many other time-saving and contract-strengthening features.
“AI will automate many of the most tedious parts of legal work,” said Daniel Lewis, US CEO of LegalOn Technologies. “Our AI Review assists legal teams by spotting risks in third-party contracts and redlines and suggesting solutions to make contracts stronger before signature. Now, we’ve taken a leap forward – AI Revise enables users to turn our suggestions into revisions.”
“LegalOn is the best implementation of review technology I’ve seen,” observed Hans Kim, General Counsel to startups and venture capital funds and former Head of Legal at Atrium. Hans Kim and more than 60 other attorneys and legal professionals across several dozen companies and law firms received early access to LegalOn’s product beginning in January.
“I use LegalOn consistently,” stated Alenda Martin, Senior Contract Manager at Turo. “The AI picks up critical issues quickly and accurately. The guidance and sample language are helpful to fix and negotiate those risks. And now, AI Revise feels like a major advance – it’s really exciting to see.”
Unlike general AI systems, AI Revise is purpose-built for legal contract review. “We built AI Revise on top of LegalOn’s AI Review and the proprietary legal content and guidance created by our team of experienced attorneys,” said Mike Contillo, LegalOn’s Head of Product. “To ensure it is trustworthy and precise, our attorneys trained AI Revise with thousands of tests and countless hours of refinement.”
“We focus on our products being usable on Day 1 for customers, with no setup or training of the AI required,” says Daniel Lewis. “AI Revise delivers instant value because we’ve trained the AI to fix hundreds of nuanced contract risks for every contract type we cover, leveraging our practical guidance content. It’s a great example of the unique value we provide customers with our combination of software and guidance.”
“LegalOn is impressive,” noted Josh Schmand, Associate General Counsel at ScribeAmerica. “The AI provided spot-on alerts to identify risky contract terms. The practice notes were excellent and helped me edit more efficiently.”
AI Revise is one of many tools that will be within LegalOn’s product suite. Coming out of the early access period, LegalOn’s product includes many new benefits and features, such as:
- More contract coverage: instantly review Master Service Agreements, Purchase Agreements, and more with AI trained to spot hundreds of nuanced contract risks specific to each contract type and your negotiating position.
- Edit and collaborate: revise contracts and collaborate with colleagues within an in-browser editor.
- Search clauses and contracts: search prior contracts and templates to find on-point clauses as you draft and edit.
“LegalOn accelerates and enhances our contract review process by helping identify areas that require closer attention,” said Chad Perlov, Director of Legal Affairs at OneNeck IT Solutions. “LegalOn’s practice notes that guide us on risk and alternative language can also save time and research in the drafting process.”
About LegalOn Technologies
LegalOn Technologies is the leading AI contract review software for legal teams, serving innovative lawyers and legal professionals at over 3,000 companies and firms globally. The company is backed by leading investors and has raised over $130M. Companies and firms interested in our technology can find more information and sign up for a demo at LegalOnTech.com. LegalOn’s US headquarters are in San Francisco, and its global headquarters are in Tokyo. Follow LegalOn on LinkedIn to stay up to date on the latest news and developments.
